Misconception #9 - Millionaires Live a Life of Ease. Ask Betty White!

Betty White does well and continues her work, now over 90 years of age. | Source

...a million here, a million there--before long you have some "real money." | Source

Misconception No.9 -- Millionaires Live a Life of Ease

Many of us envision a millionaire as having an expensive yacht, Rolls Royce, Lear jet and a dozen servants who cater to his every whim. More often a millionaire will have an office and a secretary in order to run the business.

Studies of millionaires' habits indicate that they wear off-the-rack clothing, drive modest cars and eat food purchased from the local grocery store.

Any millionaire who possesses a jet or Rolls usually needs that item for business and can write it off as a business expense.

No Magical Moment...

Wealthy people are very active. There is no great magical moment in which they announce that they are going to quit working since they have reached a landmark financial goal. Life goes on for everyone, rich or poor. Sitting around eating grapes on the divan can get boring very fast for everyone.

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This article is taken from "Born to be Rich." All ten misconceptions can be found here.

Discover the Wealth that has Always Belonged to you.

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Comments 34 comments

Mr. Jay! I am really learning a lot from your writings. Many of us do have misconceptions about millionaires. Great lessons and information.

The Frog Prince 4 years ago from Arlington, TX

Reynold - Money can't buy happiness. There are some miserable people who are millionaires by being mired in money.

TFP

Reynold Jay 4 years ago from Saginaw, Michigan Author

Hi Dex...Yep, giant pearls of wisdom usher forth!

Reynold Jay 4 years ago from Saginaw, Michigan Author

We do see individuals who win lotteries who often end no better than before. Nor would I would not want to have the stress that Donald Trump must deal with everyday.

sam costantino 4 years ago

the millionaires not happy with their lot, i'm sure, are very few since i don't see a lot of them opting for poverty. if given the choice, even if i had been rich and it hadn't worked out, i try again being rich because i know that poor doesn't work for me.

Reynold Jay 4 years ago from Saginaw, Michigan Author

Being poor doesn't work for me either, Sam. My wife would not go much for it either! rj

christopheranton 4 years ago from Gillingham Kent. United Kingdom

I like grapes and divans, but I can see how they would pall after a while. I would like to be in a position to test your theory though.

Reynold Jay 4 years ago from Saginaw, Michigan Author

I'd like to test it too and then go back to drinking diet soda like I always do.

Sueswan 4 years ago

If one chooses to become a millionaire then they have to take the good with the bad. ;-)

Reynold Jay 4 years ago from Saginaw, Michigan Author

Hi Sue--The only way I want to become a millionare is with royalties pouring in from my books! I'd bet all of us would love that.

Rosemay50 4 years ago from Hawkes Bay - NewZealand

I have no doubt that millionaires do lead stressful lives, but at least they can console themselves by dining at fine restaurants and taking trips on their yachts, throw lavish parties to forget their troubles. No I don't feel empathy for them. How many would dirty their shoes walking down an alley of cardboard homes. Oh yes I know many of them give donations to various organizations, most for the publicity and a pat on the back. But they have their eyes tight shut against the real world.

Sorry to sound so cynical I have just come from reading a poem about the homeless, both ends of the spectrum in one morning.

Reynold Jay 4 years ago from Saginaw, Michigan Author

Glad you made the comment and I really cannot argue with it at all. We see these guys ( politicians and bankers) parading around on television news shows all the time and know that for these fellows, the money simply comes to easily! I'm certainly not in love with how many of these individuals earn a buck.

Lisas-thoughts101 4 years ago from Northeast Texas

RJ, But then you see people like Bill Gates or Oprah Winfrey and realize there are rich people who truly do care and try to do something very worthwhile with their fortunes. I hope I would be like that. I think miserable rich people would be miserable poor people and vice versa.

Lisa

Reynold Jay 4 years ago from Saginaw, Michigan Author

You see that with lottery winners too. The money sometimes is overwhelming and they stay just as miserable! Beverly Hillbilly's come to mind. Don't know why though.

stars439 4 years ago from Louisiana, The Magnolia and Pelican State.

Dear Reynold Jay : We have a lot of rich relatives in our family. None of them come to see us because we are poor, and have a crippled daughter, and because it might upset their need to have delightful days. Personally I prefer better company anyway, so there is no love lost where there is none for them from our home. God forgive me. I should be more understandeing of greed, but I am not. God forgive me. I also vote up on everything you write because you are a good person. GBY.

Reynold Jay 4 years ago from Saginaw, Michigan Author

What--rich relatives do not visit? They should send birthday cards stuffed with thousand dollar bills to make up for the visits. I'd place bets that will never happen. I'm working with AMARA a Hubber, on her first book about her troubled childhood. Look for it on the best seller lists once we get the ball moviong on that one. Yeah--sure...

moonlake 4 years ago from America

I hate it when I hear millionairs whin about their life. Celebrieties are the worst. I'm sure they are a lot tighter with their money than we know. Enjoyed your hub voted up.

Reynold Jay 4 years ago from Saginaw, Michigan Author

I'd bet they use every loophole to hold onto every penny before they blow it on another new Jet. And that would be deductuctable too!

IntegrityYes 4 years ago

That is so useful and fantastic. I voted up.

Reynold Jay 4 years ago from Saginaw, Michigan Author

Thank you for the comment tnd the vote.

CraftytotheCore 2 years ago

I worked in an inner city law firm for some years. Some of the clients were extremely wealthy. They weren't walking on cloud 9 as some might think. They were actually always on the go, stressing about a lot of responsibilities, and never had much time to stop and smell the roses. I know someone who won millions of dollars, and while they were able to buy a lot of ritzy possessions, they too had a lot of responsibilities that came as a consequence to having money.

Reynold Jay 2 years ago from Saginaw, Michigan Author

Thank you Crafty to theCcore. You have confirmed my suspicions with this letter.

Tannai Hatembo 22 months ago

Great hub. I always assume that some of the wealthiest people are unhappy. It's like being a celebrity. Everyone knows of your finances so they address you accordingly. Im sure having the ability to purchase practically anything is nice. But it must get pretty lonely too.

Reynold Jay 22 months ago from Saginaw, Michigan Author

Hi Tannai, It is nice of you to take time to comment. I can tell from your profile that you are a special person. I'm here to mentor you if you ever feel the need. Ask questions. I am a teacher and always ready to set someone on the proper path. You have a great smile!!!!

Peggy W 13 months ago from Houston, Texas

There is an old saying something to the effect that money may not buy happiness but it eases the misery. Ha! Nice to know that a growing group of billionaires are making pledges to give most of their money away upon their deaths. Many are starting that process even earlier. Hooray to them! Kind hearted people can do much with an excess of money to ease pain and suffering around the world.

Did you know that quite a few of our national parks not to mention state and local parks have come about because of the generosity of wealthy people donating the land? It is true. It is wonderful when things like that can now be enjoyed by everyone instead of just a selected few.

Reynold Jay 13 months ago from Saginaw, Michigan Author

You almost wrote a HUB with your info too. I know you are correct. Thank you so much for taking time to comment Peggy, You are a gem around here.

Jackie Lynnley 13 months ago from The Beautiful South

I love Betty White and have for so many years. Had no idea she was a millionaire but she deserves to be!

Reynold Jay 13 months ago from Saginaw, Michigan Author

Hi Jackie--She is a charmer and everyone loves her. Glad you found this one. Thank you.

billybuc 13 months ago from Olympia, WA

I saw a photo the other day of Brad Pitt pushing a grocery cart. I laughed at first but then I thought "well duh...of course he shops for food!"

Reynold Jay 13 months ago from Saginaw, Michigan Author

Thank you Billy. You are a shining gem for all of us.

brakel2 13 months ago from Oklahoma City, Oklahoma

Hi I like this article but cannot find the misconceptions. They must be in the book. I know millionaires who dress like paupers. They complain about the price of lipstick. It is very comical, as I am not rich and buy the same lipstick. That is what makes them millionaires. They are frugal. Blessings, Audrey

Reynold Jay 13 months ago from Saginaw, Michigan Author

Yep--this is one of a list of misconceptions in the book. Thank you Brakel2

DDE 11 months ago from Dubrovnik, Croatia

The title says it all. I like Betty White she is one of favorite actresses, next Helen Mirren.

Reynold Jay 11 months ago from Saginaw, Michigan Author

Hi DDE--Betty is a sweet heart for all of us. Helen is too. Thank you for the comment.